Electric Vehicle (EV) Cost of Ownership  
 

A Consumer Reports report shows that electric vehicles (EVs) offer great savings. The study found that EVs cost less to operate and maintain than their gas-powered counterparts. They also generate far fewer emissions. Overall, the cost of ownership for an EV is less per year than for a gas-powered car.

The report also found that EVs have a much lower total cost of ownership throughout their lifetimes. When factoring in things like fuel costs, depreciation, insurance, and financing, an EV will save you money.

Fuel Savings

One of the biggest advantages of owning an EV is fuel savings. Electricity is cheaper than gasoline, and EVs are more efficient than gas cars. As a result, you'll save $800 to$1,00 on fuel costs every year that you own your EV.

Maintenance Savings

EVs also require less maintenance than gas cars. There are no oil changes, spark plug replacements, or tune-ups required. Additionally, EVs have fewer moving parts than gas cars, so there are fewer things that can break down. You could potentially save $4,600

Depreciation

Another factor that affects the cost of ownership is depreciation. EVs tend to retain their value better than gas cars. They will depreciate less over time. It means that you'll get more money back when you sell your EV than you would a gas car.

If you want to learn more about whether an EV may be right for you, feel free to contact our dealership here in McKinney. If you discover you'd like to stick with a gasoline-powered vehicle, we carry a great new and used selection to accommodate your needs.

* Information source is from consumerreports.org and is for general informational purposes only. All information is provided in good faith, however we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability or completeness of any information. Under no circumstance shall we have any liability to you for any loss or damage of any kind incurred as a result from use of the posted information on this page. Your use and reliance of the posted information on this page is solely at your own risk.